Chase Sapphire Reserve 100,000-Point Bonus to Be Cut in Half
The lucrative 100,000 bonus points offered with the Chase Sapphire Reserve card will not be around for much longer. JPMorgan Chase will be reducing the bonus to 50,000 points on all online orders on January 12, according to The Points Guy.
Consumers can still receive the 100,000 bonus points if they apply at a Chase location, according to the New York Times. This offer will expire on March 12.
The requirements for the bonus will remain the same: spend $4,000 or more on the card within the first three months of being a cardholder.
The card gained a tremendous following, since these 100,000 points are worth $1,500 worth of travel if they were redeemed through Chase Ultimate Rewards. The 50,000 points can be worth $750.
“When we launched the product we very purposefully introduced it with a 100,000-point sign-up bonus, because we knew it would create excitement, create some buzz… but like any promotion or any introductory offer, we’ll be evaluating it over time,” said Pam Codispoti, President of Chase Branded Cards.
Maintaining such a large bonus was never ideal for Chase’s long-term bottom-line, even though the card comes with a staggering $450 annual fee. As reported in December, Chase may lose up to $300 million in the fourth quarter as a result of the bonus offer.
Codispoti told The Points Guy, “We kept the 100,000-point introductory offer up longer than we originally anticipated, purely because of the strong demand in the product. And now, like with all promotions or introductory offers, we feel it’s time to bring that premium down to a more sustainable level.”